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tv   Mornings With Maria Bartiromo  FOX Business  November 17, 2017 6:00am-9:00am EST

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oil and gas prices. basically they are looking to diversify but the impact on their holdings could be relatively big. they hold a huge amount of money, billions of dollars across the energy sector that took the wind out of their share prices but we have to see what the effects are long-term. >> it has been a good week for the most part. >> off to a week starts and rebounded, all over the place, a roller coaster. lauren: thanks for joining us on "fbn a.m.," we will say good morning to maria bartiroma, "mornings with maria" starts now. maria: happy friday. happy birthday, top story that 6:00 on the east coast, victory
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for republicans, the house passed gop bill to overcall the nations tax code, mike pence praised the move. >> america has momentum. people at the tax foundation in order to turn this momentum into sustained economic growth you know there's one more policy more important than anything else. donald trump and i will be fighting every day to pass the largest tax cut in american history and we will do it is your. maria: the senate finance committee voted in favor of its own bill, lawmakers facing an uphill battle, the full senate expected to vote on the bill a week from monday. the house built didn't stop surging, indicating a full back at the opening of trading after triple digit move yesterday, the industrials opening 30 points, fractional bill, nasdaq is up by a fraction. donald trump tweeting on passage saying great numbers on stocks and the economy if we get tax cut and reform, we will
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see great results in europe major averages look like this, it is a mixed story. the s&p down a fraction, the cac quarante index index up a fraction. in asia mixed performance, the nikkei average and hang saying, shanghai and cosby lower. out of philadelphia, 20 people are injured as a massive blaze and golfs a senior living facility. the latest as authorities searched for a cause. how frank and under fire accused of groping and kissing a woman on a uso tour in 2006. retail once again in focus. big gains, foot locker and abercrombie and fitch as a new name enters the fray fixing the ipo coming up. the da vinci code, the brush with controversial authenticity of the $450 million painting sold at auction is brought into
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question. those stories in -- dagan mcdowell is back. kevin kelly and kings college economics professor brian brentberg. you have the best show on tv. dagen: i have listened to a lot of garbage on other networks and it is the smartest conversation morning, noon or night. maria: you are there, good to have you back. dagen: happy birthday, mom. may make maria: and our executive producer. >> extremely important. dagen: all women are important. >> i met one. maria: we got to talk about the senate plan, you had issues with 401(k) changes from the get-go and the corporate rate they want to delay. dagen: i have a big issue with
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what senator ron wyden had to say, you are starting to see sloganeering from the left, basically talking about how this is going to kill lower and middle income people, the numbers do not stand up to that in logic. maria: a bitter back and forth on the senate floor with senator hatch and senator brown. joining the conversation's council of economic advisers chairman, texas congressman louis gohmert joins us and federal reserve president and ceo, robert is with us. and jack brewer is here. our top story is clearing the hurdles to tax reform. republicans paved the way for the most brand of tax code overhaulin' three decades, the house passed the tax the last night while the senate finance committee teed up its version of the legislation for a full
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vote. >> 227, and as 205, the bill is passed. without section motion to reconsider is laid upon is able. >> from the start we said failure is not an option of the president, every step of the way with us, has been a tremendous partner on this issue. i got to say how proud i am of this conference. >> tax reform is hard but we know there are people struggling in this country. >> donald trump and i will be fighting every day to pass the largest tax cut in american history and we will do it this year. the ball is in the senate's court. maria: the president tweeted good numbers on stocks in the economy. if we get tax cut and reform we will see great results. of democrats were not such obstructionists and understood the power of lower taxes we would be able to get many of their ideas into the bill. this is a major victory for republicans. >> i think it is and back to
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the earlier point about sloganeering one of the big talking points, 30 million americans are going to lose health care. those people can -- a failing program, the worst coverage that costs more or they cannot. they are not going to lose -- 13 million people will not lose health insurance. dagen: and pay the penalty. dagen: in the first paragraph of the statement from senator ron wyden on the passage, the last sentence but it is always in the verbs the democrats choose, today republicans unanimously approved to steal from families and hard-working americans to pay tax cuts for multinational corporations, republicans will have to work hard to fight back on that language because they tax-cut for companies is great to create jobs, and keep us as the
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most vibrant economy in the world number one, and number 2 in the joint committee on taxation numbers, the reason the numbers can go to 2023, looks like people earning 20 to $30,000 a year get a tax increase because they are factoring in them presumably not taking the obamacare subsidy so that counts as a tax increase which i'm sure you talked about but this is illogical the way these numbers work out. if you don't factor that and everybody gets a tax increase. maria: $900 billion is a business cut. this is largely the point of this plan, to lower taxes on business to make an environment attractive so businesses hire workers put the talking points are there, things got heated in the senate, watch the exchange
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between senators hatch and brown. >> i resent anybody saying i'm doing this for the rich. give me a break. you guys overplays at all the time and it gets old, you want to quit. i am not through. i get sick and tired of it. a nice political play. >> all due respect i get sick and tired of the rich getting richer. we do a tax -- >> what you said was not right, that is all i am saying. i come from the lower middle-class originally, we didn't have anything so don't spew that stuff on me. maria: there you go. >> democrats were talking corporate income tax policy.
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in 2012-13 president obama, in the senate floor talking about the tax cut for the rich, i don't bite and voters shouldn't be there. this is the centerpiece, republicans have to be unapologetic about it and it is progrowth. >> the fact we are tiptoeing around it is the reason cutting the corporate tax rate, the highest corporate tax rate in the developed world, a higher corporate tax rate in italy, france, all these other countries, we are not competitive, that is why companies, we are leaving the united states and going overseas, it is cheaper for companies in other countries to invest in the united states and companies in the united states to invest here. that is the issue at hand. dagen: the sloganeering will be permanent tax cuts for companies, temporary tax cuts for individuals was that is how it is playing out. these tax cuts will disappear. they will never disappear and it puts the burden on future representatives in the house
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and senate to continue tax cuts for individuals. i don't think anybody in dc believe tax cuts for individuals or doubling standard deduction will never go away. >> why detective have to be tempered? no democrat will get on board with this. that is why they are in 1.5 trillion. you can make individual tax cuts permanent as well. >> it is complex and convoluted with sunrise and sunsets, you see where it goes to the joint committee what is going to happen but ron johnson is a no vote on this because it is not supporting small businesses and their tax cuts. he wants a lower tax rate. 1.7 million small businesses subjugated to the obamacare taxes hampering and stifling their investment --
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>> the russell 2000 index. this is the index that houses small companies -- >> it is a barometer of tax cuts. what we saw is higher yesterday more than the brought averages, most of these companies are located in the united states, they make their money and dollars and employ citizens and subjugated to 44% tax rates when you take the thin. maria: this is why ron johnson is a no. >> the russell 2000 volatility higher than the s&p 500 volatility, that is telling, you need to look at the barometer whether tax-cut i going to get done. >> the house plan for small businesses is ridiculously complex, it is not good, not
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clear, not that clear-cut. if you look at the details there are level the phase in. dagen: the senate version is better, not an overall tax-cut with all these bumpers and guardrails put in, basically it adds a tax credit, deduction. >> still too complicated because they won't bring down the top individual rate that is why small businesses are saying this might not be so good for us and they would not get on board with this until the house made it richer. >> you wonder when they are in conference and had these bills together and debating it there are changes. it will look different. >> can they get something to the president by december 12th like they wanted, december 8th we had a big date coming up too when they need to do the budget. dagen: december 12th the
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alabama election. >> they -- that is the vote. the eighth and the 12th are two critical dates coming up. maria: we will continue this conversation, 20 people hurt after a massive fire at a senior living facility in pennsylvania, it has been a dramatic scene as elderly patients were wheeled out of the blaze on beds and in wheelchairs, retail watch keeping and i on abercrombie and fitch placing earnings this morning, good news as stocks jump after the retailer posted and earnings beat, stay with us. ♪
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maria: outside philadelphia. will take that here. injured 20 people, the fire spread the multiple buildings, flames could be seen shooting from the roofs and windows of structures, residents forced to
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evacuate into the cold committee had to be pushed in wheelchairs or rolled on beds. westchester avenue fire department met with intense flames. >> heavy fire outside the building, crews along with the police department and fire debarment entered this building, helped with evacuation. at this time emergency personnel relocated residents through several shelters in the borough, several were transported to local hospitals. maria: that blaze broke out at 11:00 last night, because of the fire is under investigation. new suitors lining up for 21st century fox, the parent company of foxbusiness, comcast expressing interest in acquiring a substantial piece of the company. we should say at this time 20th century fox is declining to comment on these reports. the takeover interest gained steam, disney held fox with 21st century fox but failed to
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reach a deal on movie and tv assets. shares of comcast are down. it is also reported that verizon has interest as well. there is a bidding war going on. shares of 21st century fox have been soaring, almost 10% yesterday after the bell. the stock is getting a bit as well. gasket add to its gains after the bell tonight, shares jumping this morning as much as 8% after the retailer raised its outlook for the full year. the upbeat news out of the key holiday shopping season, gas is up 20% so far this year. abercrombie and fitch will release third-quarter numbers, investors listening for any forecast for holiday sales, abercrombie shares up 5% in 2017. fashion startup placing its ipo below its target range, pricing shares at $15 a piece in a regulatory filing targeting $18 a share to $20 a share, concerns about competition and
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long-term growth prospects put pressure on the ipo pricing. we will see about that collective retail environment, walmart yesterday, what a day. >> and professor galloway so poignant about a lot of his facts, walmart pivoted to the online, got aggressive, you are starting to see sales turnarounds on the online omni channel but 21st century fox, rumors and talks and discussions that sony is also in there. you are starting to see the content isn't king, it is the distribution in pipes but you need the content, 21st century has that, that is why you see verizon distributing through their system and sony. sony is talking to acquire more assets. maria: you have the simpsons, the hottest show there is right now that fox produces on nbc.
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obviously they are very attractive aspects. >> it is not going away but the fcc, what happens with the at&t time ordeal will detail what happens with 21st century fox. >> both go through. maria: fox changed televised entertainment. energy, married with children, the simpsons, family guy, ever watch family guy? >> across all cable channels. dagen: it is hilarious. >> i'm more of the simpsons guy myself. maria: i am a family guy guy. when we come back, ruling the road, tesla unveiled its long-awaited semitruck and the roadster, the fastest production car ever made. a vision of faith, the museum of the bible founded by the president of hobby lobby opens in washington, we are back in two minutes time. ♪ the sun goes down
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♪ grouping when the sun goes down ♪ feeling all right when the sun goes down ♪ over the water ♪ everything gets hotter when the sun goes down
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maria: let's look at markets, dow jones industrial average down 30 points, another triple digit move after the senate finance committee advances tax reform hours after house republicans passed their own bill to overall the nation's tax code. want to bring in the ceo of principle global investors, jim mclaughlin. good to see you, joining us. $445 million in assets under management, you got to out locate that. what are you doing giving away
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these markets? >> us equities, i say with a lot less -- a lot more nervousness than i did two or three years ago because they are at a higher level but looking where we go in terms of ratings, 20 times earnings, 5% earnings yield against a 10 year bond yield sounds like good value. i would continue to buy that. the added dimension, meaningful and -- passing through to the president's desk that would be a boost to the market in my view. maria: do you want to be in small caps where you would imagine beneficiaries of this plan? >> i like small and mid-cap's. don't forget the mid-caps, small and mid-cap tend to be domestic earnings and i would say in terms of the economy and
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profitability, developed economy. if you are in the domestic economy, small and mid-cap's are a nice place to be. >> a meaningful and coherent plan, is that a bigger issue on the small business tax side, a chance for not so much? >> not so much on the individual side but the priority, doing something about pass-through business taxation. if they can reduce marginal tax rates, that -- in economic terms, make a big difference to the incentive structure. the famous tax returns, what they depended on was reducing the marginal rate of tax while broadening the tax base so there isn't a destabilizing
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deficit. if they can do that -- >> looking for more on the individual side. >> got to start matter. a bipartisan priority, to the incoherence, that is more incoherent than the individual -- maria: more will come on the individual side. >> it could. this is not necessarily won and done. the thing that bothers me, by december 12th, very ambitious, this is complicated -- one of my fears is unintended consequences. >> we have the fed potentially raising rates and a bunch of governors talking about 3 hikes next year. how does that play in the market. >> 25 basis point raise in
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december, almost 100% consensus, surprised if they didn't. it wouldn't be good news if they didn't, softness in the economy. i'm below the fed, two rate increases next year rather than one, rather than three. in december next year, takes it to 2%, the 10 year yield going up, you could accommodate that on the yield curve landing and that is my central expectation, a pretty decent year for equities. dagen: what are the unintended consequences? >> broadening the tax brace, that is how it works. it may have job consequences. and access to capital. and some issues with jobs.
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the unintended consequence that are avoided. that is what usually happens taking time over a taxable, not just bureaucracy but work those things through. i'm optimistic than it may be too bad but they have at risk. >> you like technology? off the charts. >> some are probably too high but the whole basket of technology is one of the reasons the us private sector is so strong and important, utilization of technology would compare our market with foreign markets, no comparison, we have technology, the economy of the future, all companies and banks, not the economy of the future. that makes the attached to the us equity market. >> technology's growth has a reasonable price when you compare to consumer staples. maria: great to have you on the
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show, please come back soon. thank you for coming back, coming up now franken on fire, the senator accused of groping and kissing a woman on a uso tour before he was in office. international con, painting said to be by leonardo da vinci software record shattering amount $450 million but there are questions about its authenticity, back in a moment right here. ♪ gravity ♪ it is working against me ♪ ♪ gravity ♪ ♪ wants to bring me down ♪
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welcome back good friday morning everyone thank you so much for joining us. it is friday november 17. the senate finance committee moves its competing plans forward. they will get moving after they return from thanksgiving. a woman said sender al franken groped and kissed her years ago. if i come out and speak out then. i probably would get fired.
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i was afraid of that. former president bill clinton facing criticism from within his own party. he should've resigned in the aftermath of the lewinsky scandal. markets under some selling pressure this morning. another big rally yesterday. the nasdaq is up about five points. also a similar trading activity although most of the averages are higher but just fractionally. it is overnight a mixed performance about the close. new questions over this week's record setting auction. some people are raising concerns about the 450 million dollar da dollar da vinci painting. the story had. gearing up to be a super weekend at the box office.
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there are more. we have full box office preview coming up later this hour. a sexual harassment scandal hitting the senate. president trump denouncing al franken after a los angeles radio host accused him of groping and kissing her. the picture is really bad it speaks a thousand words. in pictures 345 or six while she sleeps. and i think just last week he was lectionary anyone who would listen about sexual harassment and respect for wisdom. they apologize in the statement that read in part this. i respect women i don't respect men who don't and the
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fact that my own actions have given people a good reason to doubt that makes me feel ashamed. now the senior fellow at the university of virginia. along with the campaign strategist ted cruz jason johnson. good to see you gentlemen think you so much for joining us. your thoughts here. is not a partisan issue. these are serious allegations and they have said it. it needs to be investigated. i worked 12 years in the house and senate you don't need to spend more than a week on capitol hill to heal -- to hear these kind of rumors. i don't think anybody really knows at this point. a lot of people are speculating that there are a lot more to come. this is the tip of the iceberg. in this we can agree. this is the tip of the iceberg. it's not good. it's not a partisan issue. and we really don't know where
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it will go. one of the interest in things is a suggestion that senator franken will be investigated by the ethics committee. they found zero violations that actually held anybody accountable even after hundreds of really big smokes green. basically looking at the history of that. is this the way it sweeps aside and moves on. is the report on the roughly $15 million.
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as a woman at conservative witnessing this. in my experiences with some other less leaning liberals they can use their political position as cover. they are more highly evolved. they did not issue a second statement. as to the photo it was clearly intended to be funny. i should not had done it was part of his first statement. what's so funny about it.
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what was groping or seeming to grow a woman a laugh riot. they use this as cover. i respect women that is something you learn as a young man. president trump appears to be referencing a new york magazine article about the quoted al franken back in 1985 he offered a joke about leslie stahl while writing a sketch about indy routing. it evolved leslie stahl been passed out. when she was taken to a closet
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and raped. this is a joke that he wrote allegedly back about 12 years ago. that's i think he's referencing. demeaning women and abusing women that was humor to him that's about power and manipulation. and it is the most appalling behavior. and there's a photograph of it. there's a photograph. let me switch gears and get your take on this. the democratic seminar kristin gilder. --dash mike hildebrandt what do you think. i think she later clarified.
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we say that we have the access hollywood tape of now president trump you need to look at this all as a whole. i don't think we understand what those standards are. how do you evaluate the time what are the standards when you're looking at a political election versus legal proceedings. you differentiate there's a picture. what do you need to differentiate. as your own network has reported there are eight or nine women that have made allegations against the president. if they deny the allegations yet you have other evidence that you have their testimony. i'm inclined to believe all of these women's testimonies.
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there are no allegations against the president he said during the campaign that wasn't true. there will be a lawsuit. were talking about a situation where we have a picture i am not absolving them in any way i'm just simply saying we denied those allegations of the women that have me those claims. i don't think i think this is during the campaign. it's not the same at all. this is conduct that happened before both of those people were in public office. all of these women made it
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up. you've a sitting u.s. is senator saying what he did was wrong. another sitting u.s. senator. we've a picture of it. we will leave it there. thank you very much for weighing in. these are tough subjects. in the new jersey senator he is not returning to washington with a message for his political enemies. a painting said to be a record painting. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. i am totally blind.
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futures indicating the mixed open. nasdaq is up with technology
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still firm this morning. a couple of names on the move. barnes & noble is the stock to watch. they have proposed taking the book seller private. it would value barnes & noble at over $9 per share it with a total value of $750 million including included the assumption of debt. shares of barnes & noble were down nearly 45 percent over the last year. they had increased the offer to inquire the company. it is for $225 per share. 60% of which is cash. shares are up more than 40% this year. the -- federal bribery trial. it is ending in a mistrial. outside the courthouse yesterday he fought back tears
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as he blasted the prosecution and he thinks the jury. he admitted to making mistakes but none of them were a crime. nearly a million dollars in contributions and gifts from up florida eye dr.. after the trial he made clear that he is out for political vengeance. so that they could jump into my seat. i know who you are and i won't forget you. a sitting u.s. the all electric truck. tesla. it is due out in 2019. and has a range of 500 miles on one charge. it can go from zero to 60 in about five seconds.
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it will keep the truck from wandering out of the lane. but somehow or not surprised he managed to steal his own thunder in another move. it is gonna be the fastest production car ever made. that means you can go from zero to 60 and 1.9 seconds. investors alike it. upper 2% this morning. and i hate to tell you but remember that 500-dollar payment that just sold for that record $450 million. it might not be a genuine da vinci after all. an italian art specialist suggesting that most of the work was done by another italian artist. and just painted parts of it.
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it is real. the museum of the bible opens today in washington dc. traces the history. an extensive history of the bible. from this museum by the way admission is free. we will take a break when we come back. box office expectations are pretty high. we will check it out next. is this a phone?
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that was a clip from the new movie justice league which powers its way into the box office this weekend. and it is on pace for an incredible 110 million-dollar opening and the united states. mike, great to see you. do they have enough firepower to take down the leader. they've been waiting for something to be even close as good as wonder woman. i think it will satisfy a lot of people. it will make money starring
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julia roberts. let's take a look that. i know you the most. first of all your in a laugh in a cry and it's very moving. and it's important film because it really gives us something that we don't hear about. a lot of children have in this country this is probably the most heartwarming film i've seen this year. and then the one i'm really looking forward to seeing is a film which has a lot of buzz on the opening. what do you think about that. hands down he will be the person to be for the oscars. it's really powerful.
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it's by the same writer who wrote the theory of everything. and it takes place in a four-week. who winston churchill is. you are watching winston churchill. getting to know winston churchill. there was one recently that they wrote him out. this film really focuses on churchill. it also focuses on that time that i didn't realize how much opposition he was getting from within his own party and within the government to not do those things. and saving europe. that is on my list for sure. great to see. the future is fruitless. now the company wants to put the squeeze on the global market. next our right here mornings with maria.
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good friday morning everybody. welcome so much for being here. your top stories right now. 70 am on the east coast. a massive win for the republicans. they officially passed to over fall -- overhaul the tax
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code. that is to make your promise. before this year is out we're gonna pass the largest tax cut. the senate finance committee said they are still up facing an uphill battle. the houseboat sent stocks asserting yesterday. the futures are pulling back this morning from a triple digit movie yesterday. it's expected to be down fractionally. the nasdaq is up extending the rally up another for a half. take a look markets are higher across the board. the dax index also in positive territory. the shanghai composite was lower. tragedy in baltimore.
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a police officer shot in the have wednesday night is now dead -- died. the reward to find him has gone up. crying wolf. when the actually perfectly fine. the study coming up. the details as the company unveils the electric semitruck that could go a 500 miles on a single charge. they see the dark side. ea forced to alter the deal. the company hopes that fans well not push them to alter any further. in the kings college business of economic professor. good to see you. we reported that blake shelton was the sexiest man.
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i wonder who hers was. i love that you know that. there is nothing sexy about blake shelton. he's hot. i have a dirty peer of sweatpants that are sexier than blake shelton. it's like broke country funniness. when stephani can happen. kicking off this hour with this. the white house gets closer to overhauling the nation's tax code. leadership praising the vote.
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our job is not done. the senate well had to do their work and we will come back and when we finish the job we make this promise to you. we will come back in a bigger celebration because we have listened to the american public. and the senate finance committee senate to the full senate last night. this morning and the president praised the republican victories tweeting this. if we get tax cuts in reform we will see some great results. if democrats were not such obstructionist. we would be able to get many of the ideas into the bill. joining me right now is the as a chairman of the white house counsel. kevin, good to see you.
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this is obviously a big positive. do you think it will look very different when the two sides get together and conference after thanksgiving to really humor out what this slot will look like. one is that the senate bill becomes so perfect and the second is that you mention that they are quite a bit different and they have a conference and the put the pieces together. the president president is happy with either pass. a big middle-class tax cut. there are some details as you know about how do we deal with small businesses and s corpse and how do we make our international tax rules. all those things are being worked out in the committees right now. there is a staff on both sides of there. we look forward to seeing the final product. how do you sell something that is basically good to be raising taxes on some americans much of it is because of the business tax.
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whether it's pass-through or the corporate rate. what is the pushback on the argument that you're raising taxes on some americans to pay for lower taxes on corporations. there are hundred 50 million taxpayers in this world. and every single one of them has a story. there will be some special cases where the have the taxes go for sure. the big three objectives were middle-class tax cut the numbers are big. especially if you look at the expanded child credit. it's a lot simpler because of the big standard deduction and the part that i've been talking about for 20 years the idea that if we cut the corporate tax and then we bring factories home. that drives up the wages. i agree with that. the corporate tax cut is very powerful. you deal people do a people
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pushing back on certain elements here. the latest amendment includes changes to the tax treatment. they would be required to hold assets but people are wondering if in fact that's enough. the whole time on the campaign the present was very clear. carried interest was unfair. to treat income as capital gains. what is the answer. how come moore wasn't done on carried interest there. they have these big three objectives that he's very pleased to see that they are looking at the carried interest provisions as well. at something he spoke a lot about. if to go back just slightly and look at the bigger picture that there's an equity and efficiency trade-off in every tax bill. they've different opinions about how you will draw the line. in the end we need enough
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votes to put it through the senate. it was almost as big a victory as a celtics over the war years last night. a huge victory last night. the senators get to address their opinions. you will have to vote for it before you can see it. that's why you can watch this process and go. i was very impressed with the senator yesterday. obviously things got heated in the senate. we have that exchange that we will run in the second. we know going into any tax play and that the left was good to have their talking points ready. this was a hole cut for the rich. listen to this. i want to get your reaction to the senator i really resent anybody that i'm just doing this for the rich.
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i think you guys overplay that all the time it gets old. i'm not through. i get sick and tired of it. it's a nice political play. i get sick and tighter getting to richard and richard. what you said it was not right. that's all i'm saying. i come from the lower middle class originally. don't spew that stuff on me. and yet kevin when the talking point comes out you need to be there. he have to explain to people that it's actually not the case. are they doing enough to explain what this plan is. it still looks like it has enough support in the senate
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to become law. they are doing enough. as you know what's can happen is that six months from now hopefully i will come back on the show and we will be looking at the wage data. it doesn't seem to be showing up yet. that's in the end what is going to matter to voters. if you look at the academic data there is a lot of reason to believe that they will be very naked. i think in the end they watch that kind of stuff and they say i hope they work it out and in the end they care about their own lives. i really believe that after studying this for decades that it was designed in a way that was really moving in the economy forward. that's what the senator was so emotional. he does not believe that at of ideology. he studied the issue with the staff and with us. they had tended to have big wage increases in growth increases.
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the organization of developed countries. they were basically saying thank god the u.s. is finally adopting u.s. norms. you wonder why the democrats are still fighting. it's a political ideology. and it's just politics. you believe in the direct impact of this plan would be higher wages and economic growth. let me ask you then. do you feel worried that the senate in the plan. has an idea to delay the corporate rate going to 20% by one year. president trump has made it absolutely clear that he wants the rate cut right away if you look at what the senate guys are doing. they have these rules. in order to pass the bill. they might have to delay a year.
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if you delay a year you do create two effects. affects. one negative and one positive. the positive effect. is that you give people an incentive to buy more capital equipment next year to get a 35% benefit. thus those are moving in opposite directions. i can see why the senate is looking for ways to get this thing to fit their through all of the holes i can fit through. and that saves a hundred billion dollars. the president significantly refers that. are they going to be permanent. the intent is that they would be permanent and because of the budget roles there might be some things and there hopefully as little as possible in the end has to expire because if it affects the budget outside of the budget window then you have to appeal it -- repeal it.
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my guess is that there is going to be some stuff like the expensing for some example. the history of these progrowth things is that they do get extended over and over again. and certainly the intent is to make it permanent to give you an example in the first year if you expense something that you will write off over seven years and then then it doesn't cost anything in the budget calculus. you're not taking any tax break there. the whole seven years starts from the beginning. that cost a lot of money. that affect a pulling stuff into the window is minimized. they could add can add a year for free because there is no machine that will be written outside of ten years.
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then a hundred% democrats and republicans there do you want to extend that thing and not harm the economy. when they go to do that it will cost almost nothing. tesla shifting into high gear revealing the new truck. coming up next. customers see a dark side to the new battlefront
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>> welcome back. lauren with the details now. see mike detective died yesterday after being shot in the have he was just 43. he leaves behind a wife and five children. he was shot as he was doing a follow up on a murder case with his partner and then confronted a man who they say was acting suspiciously. the suspect may have been injured during the incident. they are now searching emergency rooms and doctors offices. we will find the person responsible for this
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ridiculous absurd unnecessary loss of life. authorities now offer rewards totaling almost a hundred $70,000 for any information that could lead to an arrest and conviction of this cop killer. more workers are calling in sick when they're not. 40% of workers have taken at least one day off in the last year. that's up from 35 percent. don't think that your bath is -- boss is not going to know the truth. 40% of bosses said that they have caught their workers on social media. it is apologizing to angry fans over the controversial pay to win the future. hours and hours collecting
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credits or they just pay up front to get them instantly. the company said they are now turning off all endgame purchases they will return once they make changes to the game. those endgame purchases can add up to thousands of dollars. you are looking at it right there. avocado toast christmas ornament. i know avocado toast is expensive but the ornament cost double the real price. in that case the ornament is the same. for the millennial in your life. the next steps for the
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country. king solomon reportedly plans to step down as soon as next week. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. the pen where you don't have to see or handle a needle. and it works 24/7. trulicity is a once-weekly injectable medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. it should not be the first medicine to treat diabetes, or for people with type 1 diabetes
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>> how are you feeling ahead of this vote. this is a historic step no doubt. 52 percent of voters disapprove of the republican plan. it's not just that disapproval it's the don't understand what has been presented in front of them right now. they need to get this thing done before the alabama special election. they are moving this at light
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speed for congress. we really don't know what the chinese have committed to or not committed to. that china has not moved at all. it's possible they have the something in the works that they don't want to discuss in public yet. you start to see them punishing their political opponents. they tweet that we head on the record. where is my justice department. you can not survive the department of justice. they want a major bump up in salary. he has blown it with the fans this has been a pr disaster for them. and he has imposed i think excessive heat is in a
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weakened position to make any demands from the owners. that's give it to yourself. merry christmas you filthy animal. the plaza wants to get home alone fans lost in new york. the full experience. no word if that pigeon lady will meet you on the two are the big plans for the iconic film. they are getting bigger. i like it.
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and drumroll please the number one spot belonging to the ceo of nvidia. i'm sure you guys had been talking about the stock over the last couple of years. if you look at it the stocks in the fortune 500 easily the best performing stock over the last three years. as more women continue to come forward. standing next to him at the oscar party i did not know who he was. in terms of business and becoming an entrepreneur. this is something i'm so proud of. i'm allergic to wine, beer most vodkas so i would make my own drinks at home. i said this is what i want. i want a cocktail so all i have to do is just poor and i'm done.
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someone brought up the big food craze. a look back a great week here. king solomon of saudi arabia is planning to step down as soon as next week. the 32-year-old prince arrested more than 40 government officials earlier this month in a corruption sting. i was able to sit down with the crown prince. at the future investment initiative just two weeks ago. we want to live a normal life. one that translates the moderate religion. we coexist and live with the world. this is something in steps that we have taken in the past. it's clear. we will eradicate the rest of extremism very soon.
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i don't think this is a real challenge. we will present the moderate and we have the right. it's on our side. the enormity of being in saudi arabia and sitting with the future king. i have said to them are you expecting them to cover up. all of the women would on a silly want you to cover up. what is your take on what's going on there. as a society and as an ally. and fighting other countries that hate us i think it will will be increasingly critical for us to step up as i ran it will clearly and is already moving into the region. as we defeat the islamic state. they will try to take over.
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i think it is hard to overstate the importance i think it is extraordinary in the matter of three weeks. i sat down with the prime minister and then the president and then the crown prince. i think it's incredible that these three nations have a common theme. that's by why you are seen such cohesiveness and even israel. one of the things that worries me the most. another thing that concerns me is what's happening in yemen. we want the new crown prince to actually be temperament. while i was in riyadh i also said donald was steven mnuchin
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it was jampacked with money people from america in saudi that week. we have the budget passed. we expect the belt come out very quickly and get to the president to sign this year. i think the two most important issues that they had focused on is a 20% corporate rate to make our business competitive. that is what is driving this. that's what is can be focused on. that deduction hits middle class. having said that the priority for the president is a middle
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income tax cut and we want to make sure that whatever we end up with there is a real tax cut there. we don't have middle income people paying higher taxes. there is a story right now. some of the people that he has arrested. they will be let go. i think it's pretty interesting given the fact that it's a corruption charges and allegations. revitalizing the economy over there and trying that. a lot of the people that are there are 30 and under and they are unemployed or they are on the saudi budget. 70% of the people are under 30 years old. real quick on the tax plan your feelings about this. >> the senate is the graveyard for the appeal.
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i'm hopeful but i'm trying to temper those expectations. i think the momentum is different. i think you are right. let's point out that the senate plan is removing the individual mandate. we will take a break. the all electric semitruck. the big rig will drive circles around the competition. back in a moment right here. [music] alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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maria: happy friday welcome back everybody, thanks so much for joining us. i'm maria bartiromo. it is friday, november 17 your top stories right now 7:30 a.m. on the east coast. one step closer to all verying the tax code, the house passing version of tax cuts and senate finance committee moved competing plan forward a battle remains lawmakers get to work after they return from thanksgiving, tesla big, ceo elon musk unveiling the company semitruck last night, that has a range of 500 miles, also had a surprise for tesla he loyalalists. >> turns out there is cargo in the truck -- there is cargo in the truck -- we bring it out, at this a long time when you going to make a new -- >> we are making it now. >> investors liking the news stock jumping ahead of open up 3 and a quarter% right now,
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other stocks finance o to move foot locker abercrombie & fitch foot locker bret baier earnings revenue same-store sales higher abercrombie & fitch topping estimates as you see dlookdz facts sharply higher as you can see foot locker up 20% abercrombie & fitch up 26% broader markets futures mixed opening for broader averages dow industrials down 17, s&p fractionally lower nasdaq, up a fraction, 5 points higher on nasdaq in europe this morning, stocks are higher across the board, even if fractionally, breast perform dax in germany up a quarter of a percent in asia overnight mechanics performances take a look best performer hang seng hong kong up two-thirds of 1% dallas cowboys owner jerry jones denied he wanted sit-down with other nfl owners as he ramps up his feud with nfl a growing juice brand teams up with russell wilson juice press healthy food and drinks to the west coast.
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>> all that coming up this morning, and talk about a big rig, last night tesla shifted into high gear in vialing all electric semi truck wlonlon describes what it feels like to drive vehicle can attractively to up 500 miles on single charge. >> because this truck has no gears there is no -- no gears it has one gear, it is smooth like driving it is like driving -- a model s, or x, or three it is big. it is really super easy to drive incredibly responsive unlike any truck you have ever driven. >> good to see you -- >> good to see they thanks for joining us, autonomous cars innovative materials what did you think of the big reveal. >> it is going to be cheaper than diesel semi, and by the way, that truck autonomous today not fully a.m.s we think
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cost could be reduced by 75% from day cheaper than rail more goods over trucks and going to completely transform logistics as we know it. maria: wow. >> there is one word you need to remember. dagen: unions never going to happen i say "never" would put that out in future, again my parents ran a wholesale grocery store used to get i dloifrdz by rail in 70s trucking, unions, essentially, did away with that for lack of a better phrase. a great point if you look at the autonomous guideline regulation the teamsters were able to get out of bill language would support autoimmunes trucks we think when 24 comes out trucks are ready to go umz there will be a driver in the front so that 75 --% includes one driver at front you can imagine 23 two in a truck in the back. >> so you have tesla as number
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one holding, in the portfolio, for the etf that you cover, one of the interesting things jim, knowable short seller hugely bearish on tesla for several reasons one the auto mfshz going eb by 2020, 2025 huge debt load automotive a solid state batteries that will be two and a half times density 500 miles per charges d'affaires in one minute what do you what is your take on the bear case theseize. >> batteries one of the reasons automakers have later time lines for ed's don't have battery capability that tesla has the giga factor, right so you need that in order to produce cars, and one thing that tesla has no, no other aurment automakers have collecting cars, auto pilot going to turn that into their version of
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autonomous uber, capital requirements a thing of the past. maria: also revealed a roadster not only surprise elon unveiling 200,000 dollar roadster updated version of sports car about musk says fastest production car made from zero to 60 less than two seconds are you surprised by that. >> i mean it is amazing performance, and we've seen tesla deliver like in this in the past, tesla a start-up in industry that really kills start-ups,they made it right? so we're not surprised, you see them we have seen them do things ahead of other automakers, you know again autonomous technology is one of those major things, and we think that -- the fact that tesla was built from ground up, as a software company, makes it able to deliver types of innovations that other automakers are catching up to --
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>> there meeting with the big flashy car having trouble doing the car that some day could be kind of car the average american is that a problem for you in the fact talking sports cars, with everyday car. >> production is important we think that is short-term look to long term five year investment horizon we think long term, two the three years going to turn on autonomous taxi services, to make the case that tesla won't be able to do that you have to say okay, are they going to be able to produce cars at all? right, we think they will. so we are confident in that long term. >> traction has not caught on yet right? in terms of sales are customers buying this? >> well. >> day? >> yes, so we have seen demand certainly outpace expectations for the model 3 we have seen preorders, very high numbers, and we actually think that you know anyone that buys a model 3 once able to sign for that autonomous version uber can collect money back on the car, this becomes something that
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was stranded asset you can make back investment in the vehicle. maria: wow good stuff thanks so much jerry jones denied by nfl has about rejected a ask from dallas cowboys owner to discuss commissioner roger goodell's contract, juice press sky-high see what the chairman says about expansion plans into airports straight ahead. ♪ ♪ 6
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>> well back big night for nfl, pittsburgh crushed titans 40-17 making fifth consecutive season victory fans got entirely new experience, nbc tested out using sky cam as main angle for the game, meant to provide a view from the quarterback's perspective many thought the change was inspired more by madam video
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games former nfl star co jack brewer with us jack good to see you. >> great to see you. >> what did you think about new look. >> o i liked it a lot actually, a new perspective to the game, you know like you say watch my 19-year-old playing video gales all the time exactly dead-on that is what you see, almost looks real. >> how play develops you don't see that from side angle here perspective how lanes open up passes, runs can happen interesting way to see how game develops. >> it is funny when you are playing in angle is what you watch as you prepare obviously you know that, so you know to get the pans engaged in that you can really see like you said how plays develop everyone assigned, football about gaps, about hidden gap filling gaps on defense about filling your lanes, so you are able to see that now and i think you know they've got on to something makes experience better for the fan and educate the fan more about the game.
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>> i am surprised it took this long, we've seen cams like this in college football that go across the stadium so you've seen this do you think going to start implementing drones to start filming looking at certain plays. >> they already have drones, all around the stadiums, now you go in pregame, i don't think they use them as much during the during the play, i would assume that the nfl will pass those new rules as well, but you know, you hit it dead-on i think using new technologies will help the game advance this stuff has been there right you have been able to see views, for probably over a decade i know when i played we had things moving around i am getting pretty old. maria: wow. >> technology has been there, yeah. dagen: to keep eyeballs point-blank worry about preventing any more -- viewership loss. >> fan experience is off to i don't go very many football games anymore i haven't bone
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to a football game almost two years because i choose to watch it on my couch over being there, i think this experience will help that. maria: and then there is the whole fighting going on right now, infighting in nfl owners about rejected a request from dallas cowboys owner jerry jones for say itdown meeting to talk about roger goodell's contract, to sue over possible extension owners warn he could be subject to fine if he files a lawsuit. >> your take. >> very complex the dallas cowboys make up over 20% of all the league's apparel sold when that money comes in they've to split that revenue across the board. jerry jones doesn't like that very well you also look, jerry jones stood up against roger goodell and perspective on the entire kneeling situation, which he is arguing is taking substantial amount of monday revenue from league when it is that can be proven. >> ratings are down. >> ratings are down another thing is he zekia elliott
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situation jerry jones best player got suspended six games, he was suspended for alleged domestic violence if you look you dig back you peel back this case you see that goodell never even spoke to the accuser to nfl lead investigator, on the case so jerry jones is really up in arms about this. >> that is the biggest issue roger goodell judge jury executioner no commonality menz special and domestic violence dispute allegations. >> about suspensions going on. >> a sport nowadays will basically suspend a player if one phone call from a sponsor. without doing any kind of investigation, with whatsoever he said she said quite frankly it is -- it is one sponsor making a private phone call. >> i think we should be more concerned about bob mcnair
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than jerry jones. >> good point remember that back in may, jerry jones voted, give a compensation right to extended roger goodell's contract already signed off on that, and that may come back to bite him. maria: we leave it there jack always great to see you thank you so much graiksz on baby girl. >> thank you again. >> congratulations on baby girl. >> there she is, aww. >> her name is. >> o via. >> victorious woman born veterans day what does that stay russell wilson teams up with juice press how super bowl champ is bringing drinks to the west coast check out new humanoid robots from bonn dynamics high-tech machine now able to do backflips. back in a moment. .
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>> welcome back new york city airports just received a major upgraded organic drink maker juice press, begin selling cold press drinks plant based snacks all three major airports to take health products to global audience joining us chairman juice press, michael good to see you thanks for joining us. >> good to see you, too,. >> your company expanded over 1500 percent, 5210 launch how is it going irone of the hottest drinks in healthy foods. >> i think, well you touched a never been from a consumer need and brand equity perspective, and we have expand the definition of juice press to be a platform from 4 to 57 zeros past five years big expansion ahead next year. >> what is so great about juice. >> two things juice itself, is -- we believe, nutrient dense
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will have ability to change your life, and myself that has been dramatic since i've gotten involved in juice press past five plus years in addition, we have broadened definition of juice he press to make it we think preemment platform for perspective in the country. >> you are vertically integrated you think helps control quality in a way others are not able to do that. >> big food companies about academies economies of scale extended shelf life to improve economies of scale we are proving you don't have to sacrifice you know you don't sacrifice that you can have fresh product in order to do that we had to create a vertical integration make over 100 products a day over seven days a week. >> kevin and i have been drinking ginger not as fiery as you promised. it is very good for your
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digestive system. >> i tried green apple spinach lemon pretty good you have a partnership with equinox seems from the beginning of good trend for you, now your partnering with you super bowl champ quarterback wilson launched in seattle tell us about that. >> in new york is very is a great advantage for us so much exposure radiusesel won super bowl came to new york to talk show circuit and felt the juice press became paushth calling me once every several months asking when juice is coming to seattle at the time we felt we can handle that expansion but after we went from, the zero to six stores in above and beyond did no with same success we are having in new york we gained confidence to be willing doing to seattle we had media day two days ago opening up right after thanksgiving. >> i think one of the most important things for me to know about juice press is not -- dagen: 8 dollars -- this
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little thing is $8 -- >> i think also not just juice though you can go i like the vanilla chia pudding i am a customer my fiancée lives there superout by 11:30 really good healthy levying so i think that is the important thing living, brand equity how does that come into play looking to expand your offering? >> we are having a day looking to expand our product play on, and tie that into the point about $8. we have we are premium to whatever products category means that now we have energy bars we sell, 300,000 energy bars we make ourselves $3.50 maybe energy bars $2.75 also people not no new york city, $15 dollar label having two 00 plus square foot rent different in cities apples and oranges in that regard. >> i do want to point out that
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we are not apologetic about the fact unfortunately, the big food companies have distortsdz viewpoint what you should pay they have denigrated quality in order to lower the price, but in that in that instance they have sacrificed quality tremendously, and truth is that organic produce is one hundred percent more expensive many times than conventional so as a result, prices will be higher. >> i agree worth every dollar. >> we will leave it there great to see you congrats. >> thank you so much. >> michael, juice press we will be right back, stay with us. t. rowe price... ...we've helped our investors stay confident for over 75 years. call us or your advisor. t. rowe price. invest with confidence.
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maria: we'll back good friday morning, everybody thanks so much for joining us. i'm maria bartiromo. friday, november 17, your top stories 8:00 a.m. on the east coast, a victory for republicans, the house initially massived gop bill to overhaul our country's tax code vice president mike persons praised the move. >> there are two paths going forward that are possible one that senate bill becomes so perfect, that the house -- we will just pass that the second is as you mentioned, that there quite a bit different, and then they have a conference to put together i think the president is happy with either path thinks both achieve major objectives big corporate tax cut big middle class zrut simplification. >> white house counsel director joining us, just a while ago, the battle far from over senate finance committee
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voetdz in favor of its bill lawmakers facing uphill battle the senate expected to vote a week from monday, house vote sent stocks surging futures a pullback dow industrials down 11 points s&p 500, exactly where it closed the s&p -- nasdaq rather is higher by almost 8 points, nasdaq up, this morning, and continuing to administrative higher knee in europe ft 100 unchanged cac quarante and dax index gains a quarter of a percent higher in germany in asia overnight, mixed performs best japan and hong kong. retail in focus big names reporting earnings, foot locker abercrombie & fitch. foot locker better than expected arranges republic and same store stock on tire abercrombie & fitch topped estimates stock up 20%, both up 20%, al frankin under fire accused groping kissing a woman on tour in 2006, there is the picture to prove it, more on allegations coming up. dealing with the threat just
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days after president trump returned from region, china sending envoy to north korea, what move means for growing texts with hermeare hermit king. >> top to his ahead of the biggest shopping day of season black friday a week from today, all those coming up joining me to he can bra it down fox business network dagen mcdowell, telly and company managing partner kevin kelly, economics professor brian, good to see you. . >> today -- you know two hours, flew by. >> kevin stop that. >> [laughter]. maria: we did miss you missed you a lot. >>. dagen: i missed you guys so much talking about taxes this morning, top story this hour is moving forward with tax reform package -- are comprehensive tax code overhaul in three decades by passing its own tax bill yesterday, no democrats 1 republicans voted against --
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13 republicans voted against bill president trump tweeted great numbers on stocks economy if we get tax cuts and reform we will see some really great results, adding this, if democrats were not such object struckinists understood power of lower taxes would be able to get many of their ideas into the bill from washington house jair committee member louie gomer of texas goods to see you thanks for joining us. >> good to be with you. >> congratulations to you this is a big deal, we know, passing that bill, what are your thoughts about the senate can senate get it over finish line just naming you know, ron johnson, you know, john mccain, does not like the president, he doesn't want to do anything, in terms of legislation passing you know jeff flake also has problems, bob corker has problems with the president. do you think can senate pass something? >> well sure they can pass something but going to have to quit sounding like -- democrats given dinformation
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young dineel would have jurisdiction to bring out obamacare a lot better bill is extremely liberal but he and wife are both, they are decent honorable honest people but the reason pelosi removed him as chairman she wanted cap and trade pushed through it would have added massive taxes, to corporations and dingell said not only a tax it is a great big tax, what a lot of people do not understand when you lower prices, or lower the corporate rate, you have just lowered prices for the poorest in the country who pay a far greater percentage of their income for the basics they need those prices come down, the prices of goods and services, can you imagine, 35% eliminated all corporate tax, the biggest beneficiaries would be nation's poor, and we
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could compete across the world, when you knock down prices by knocking out the -- the corporate tax, but getting it down to 20 was a huge win, i wish that mcconnell ryan listened to the president he wanted to work something out came up with 20, they came down from where they were so at 20, still a huge help for the nation's poor, and i am sick and tired of people playing politics saying oh just for rich corporations corporate tax most insidious tax there is because it -- it is the largest tariff that any industrialized nation puts on its own goods and sfervices time to give that a break give poor a break more jobs more income increase revenue long run i am thrilled we passed it senate has to get realistic, and do what is good for the american people.
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>> congressman the senate is going to include a repeal of the individual mandate is that going to accelerate this getting done by christmas or is that going to get in the way? >> no, no, no, it is going to speed things up, and i really think most of us in the house, want the republicans that is, we wanted to eliminate individual mandate what that does that allows us to give even bigger tax breaks which are going to help the economy even more, i couldn't believe about the senate when talking about putting the stuff off, for year. >> my gosh what they would be doing if they put this off for a year is they would be letting the democrats take the majority next year, and then the tax cuts would kick in corporate tax cuts, and then the economy would improve just in time for the new democratic majority to say look what we did for the economy, i mean that is nuts. crazy. dagen: some falls on your shoulders not just you as an
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individual but you as a member of the house of representatives, because if you had about tackled this first rather than obamacare repeal if this had been first on table in february it could have gotten done by the end of the year and then you could have made -- >> actually, we did do this early and what happened we did it back with march, but the senate is once again, the problem where this happened so when you say if you had gotten this done you don't just mean house republicans you really mean democrat -- the -- actually the republicans in the house refused to vote for it, really made the difference. >>. dagen: congressman we koobt. >> a lot bigger tax cut if we had done that and senate had gotten onboard -- dagen: did not refer to democrats as members of the house and members of the senate when it comes to actually passing legislation. because nobody will lift one
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finger to do anything to help american people if republican is involved. >> that is the way it looking. maria: let me ask you this. >> surprised how democrats voted for, because i know some of them know in their hearts that you lower corporate rates there is going to be big, bigger incomes more jobs economy is going to shoot up. some know that -- >> i totally understand i agree that you lower corporate tax it has a major impact, creating environment for business, that noirjz them to hire new workers invest in business not just democrats having problems, let me read you on for committee of for responsible budget, fundamentally the senate bill suffers from same fatal floor as house bill trying to cut taxes one and half trillion no plan to pay for cuts in fact tax cuts that add to debt do less to grow economy can skwlly responsible reform may hurt economic growth over long term, i recognize your -- your priority right now is growth, but when does getting your arms around the debt 20
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trillion dollars become a priority sir? >> well, i want -- we've been working on that for sometime. but now majority of us working on that -- but it is really -- rich to hear the people that gave us a 1.5 trillion-dollar deficit in obama's first year, come in talk about the deficit we're doing but it was sad to come to grips with it but some of us finally realized we cannot tax our way sufficiently to -- to deal with the debt. there is only one way we're going to save this economy for future generations that is with growth it can't be 2 or 3% it has got to be major growth only then will we dramatically bring down the deficit. so we are looking for big economic growth and that brings down the -- the
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deficit, otherwise we don't do it and we keep spiraling up until we are out of control. maria: priority one kevin kelly. >> it is a big deal. >> congressman i think usual hitting the nail on head we need to grow the pie not unaccounted it up into smaller pieces what do you think big impediment getting this done we are promised done by december, early december so it could be on president's desk we can sign by christmas what will not get this done? >> you ask what is the biggest impediment? it is people some people in the senate dislike for the president. if they will put aside their -- juvenile feelings about the president and say, doesn't matter who is president i want to do that is best for the american people, we will get this tax cut done the next day >> what if they don't what is plan b? what if they don't. >> then we've got to come after them we got to get -- like the president has been saying earlier this year we got to get republicans who
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don't care who is president they care about doing what is best for the american people, then we will get it done but i think those who have been taking shots at the president, when they realize that their own seats are at stake even if they are not after two or four years they will come around and do the right thing, it is amazing what elections do for help doing right things. >> peter king thinks this seat is in general democratsing targeted his seat in 2018 election, so he thinks his seat is in generjeopardy if he votes yes raising taxes on people in new york with litigious of salt. >> i know people in new york, and california, and new jersey. maria: illinois. >> and illinois that are concerned about that, but the fact is other states are going to get hurt too, because there is limitation they are not able to get sales tax an effect on everybody but, overall, effect is a good
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thing, the fact is the reason anybody would complain about salt not being deductible is that it is politics they are afraid perception is among voters they are going to get hurt actually that is one of the things to streamline tax code done across the board going to affect everybody talking to guy from california yesterday said ahh, from texas your property taxes so much higher than ours, and man, i have been paying a whole lot more property tax things that are going to that is going to affect everybody. but most of us see that the overall good of the country dictates let's get this tax deal done. maria: all right congressman leave it there great to see you. thank you so much. >> coming up, al franken under fire accused of groping kissing a woman in uso tour in 2006 pictures to prove it his
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response to allegations. >> president of federal reserve bank dallas when us join us to talk tax reform give his thoughts on the president's pick to replace janet yellen. back in a moment. ♪ snoet
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maria: welcome walk, scandals
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rocking politics president trump denouncing senator al franken over sexual misconduct allegations fox poll on alabama senate candidate roy moore. >> good morning to you. reporter: good morning to you brand-new poll show thes a dramatic solicit in the senate race what is normally deep red alabama according to that poll, roy moore down 8 points to democrat doug jones one in eighth republicans preferring moore's spoebt president trump has yet to fully distancing himself from roy moore amid allegations of sexual harassment against moore the press secretariry was asked if the president fwreagrees with daughter ivanka trump said no reason not to believe the women. >> he is saying that he finds the allegations to be extremely troubling, he doesn't know any more than you do on this other than these
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are something should be taken very seriously people of alabama should be ones to make decision whether or not to support roy moore. >> president has refused a couple different opportunities since back in washington from his overseas trip, to comment to reporters who tried to get him on record about this he was eager yesterday to comment about the allegations against the democratic senator al franken specifically, this picture from a 2006 uso tour the president tweeted i quote here he said the al franken stein picture is really bad speaks 1,000 words where do hands go in pictures two, three, four, five, six while she sleeps during the briefing yesterday sanders ways asked whether or not white house feels ethics investigation senate said it will launch against franken is appropriate, sanders said it is quote appropriate action. back to you. maria: thanks so much blake burman at the white house,
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this morning, congress members accused of sexual harassment to pay off accusers using taxpayer dollars numbers worse than thought gerri willis. >> good morning that is right congress's office of compliance making public the total cost of harassment settles big than thought 17240854 dollars had to get every penny in taxpayer dollars going to settlements and awards over 20 years beginning in 1997. 264 over that period with average award totaling 65,000 dollars, no details no names released at this this time, the data released last night because quote the volume of recent coincident inquiries according to letter from executive director susan grunman office works as h.r. office if you will of congress, now not all settlements are for sexual harassment cases office he
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oversees disputes over race disability discriminations family medical leave other stuff single biggest year 2001, 25 settlements awarded total value more than 4 million dollars this year 8 awarded value 934 thousand dollars this week representative jackie spear said the office follows strike rules advantage institution strike silence about details of settlements observed, two sitting members of congress one democrat with an republican accused of sexual harassment through this office kathy, house republican conference chair yesterday on this show. >> did -- insurers that this is unacceptable, and make sure that we are educating raising awareness taking action so unacceptable may being sure our victims are getting the support that they need. i think we all were taken back
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by reports of settlements, and we are looking at that. >> believing education will do the trick, as i pass it back to you maria there is a creep list apparently out there, of congress members not to be trusted, even a list of places the young women should not go because they might be harassed he will elevators, et cetera,. >> wow. >> new meaning to "swamp" the elevators now. >> take a break can when what we come back china sending envoy to north korea days after president trump's trip, across asia the strong message for the rising tensions in the region and hauling into future elon musk shows off tesla's new electric semitruck yes says it could reshape roads are as we know it. back in a moment right here. ♪ ♪ dancing ♪ ♪ dancing through the night ♪
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. maria: welcome back, china announced they are sending a diplomat to north korea, for the first time in two years, as a special envoy of chinese president xi jinping, the announcement less than a week after president trump returned home from 13-day trip across asia china tweeted china sending envoy delegation to north korea big move we will see what happens, joining us right now a fellow hoover institute form policy director romney ryan presidential campaign ticket, good to see you thanks for being here. >> good morning, everyone. . >> your take on this envoy to north korea big deal. >> yeah this is very important, i mean ostensibly the idea that this envoy is going to update north korean on exactly what happened at recent chinese party congress election but really we know what this is about this is
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about the -- exercise of pressure potentially on north koreans, to halt their continuing march toward nuclearization, so we will see what happens we don't know exactly what the envoy is going to say don't know what the progress is going to be on heels of president's trip to asia i think good news. >> really important, because here you have you look at mainstream media showing stories of the president drinking sip of water headlines china sending envoy to nor first time in long time maybe he is making a dinners. >> certainly here is one thing that is clear whatever we were doing with north korea, for the last 8 years surely didn't work right in because look where we are at additional nuclear tests, at additiondigit relent not stopped, a different approach might yield different results might see that soon. >> kevin china enabled north
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korea to this point the reason why able to develop these weapons is case they were trained in china, china supplies oil to them, banking financial services, is china actually going to change their beat is this special envoy going to get the message across? >> you know we will have to see i don't know that we know exactly yet but it is absolutely clear you are right chinese key to cracking the code without chinese north koreans have no economy, they have no training as you say. they have no way out. so if chinese are willing to expert additional pressure willing to say knock it off kim jong-un will have impact make no mistake about that. >> you know you talk about china, the leverage there but, of course, north korea has black market relationships with a lot of other countries here, if china is leaning on north korea are they going to lean on some other relationships as well? or do you just see sort of a
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refunneling away from china towards actors around the world. >> you are right black market relationships ultimately it is chinese perspective of geography as well boarded between north korea, and china that relationship becomes critical, by the way, china has leverage on some other rogue actors as well not lining china is just speaking for itself, potentially, so the reason why they are so critical yes, they hold economic keys to the castle but beyond that all of their relationships with all actors want to do business with north korea i think that is important factor as well, previously we just have not been able to get that leverage with china not able to make that progress for whatever reason during the obama administration, we just weren't there so hopefully, now, things are moving in different direction we will see. maria: we will leave it there good to see you thanks so much. >> good to be with you. >> still ahead abercrombie & fitch, as well as foot locker
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kicking it up a notch stocks soaring in premarket take a look up 20% plus on both, strong third quarters both companies breaking down retail earnings of the morning eyeing future of the jed jerome powell to replace fed chief janet yellen end of her term i talk to president of the federal reserve bank of dallas and get his tack on the tax reform push back in a moment right here.
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maria: good friday morning welcome back thanks so much
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for joining us. i'm maria bartiromo happy friday it is friday, november 17 top stories right now 8:30 a.m. on the east coast. legislative victory for republicans house passing version of tax cuts, and senate finance committee moved to its competing plan forward but uphill battle remains lawmakers get to work after they return from thanksgiving holiday, white house counsel economic advisories chairman joined me earlier weighing in on the priorities on taxes. >> the bottom line is that the big three objectives from the beginning for 93 trump middle class tax cuts, check, that is there, abouts the numbers are big, especially if you look at child credit, two a lot similarly because of steady deduction three part i have been talking about 20 years talking to you about for 20 years, maria the idea that if we cut corporate tax we bring factors home that increases flan for workers in u.s. drives up wages. maria: a closer look implication of fiscal policy on economy coming up, tesla ceo elon musk unveiling two
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vehicles big rig and sports car investors likeing the news take a look, stock up almost 4% we've got details coming up this morning, retailer earnings in focus abercrombie & fitch, about foot locker relocateing beating expectations, with earnings, and stocks on fire, beneath stocks up 20% apiece right now, broad markets not so hot off a strong day as investors reacted to news dow industrials looking to pull back 30 points steven kaplan 500 down a fraction, nasdaq, staying in positive territory up about 4 points, building perlts october housing numbers out as we speak, hitting the tape right now as we speak, both mirrors above expectations this morning. in europe, this morning take a look at averages, as you can see, the european indices mixed ft 100 positive barely up a fraction, as is the dax index things have turned more negative last half hour in europe, californianing cac
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down -- cac quarante down fraction. >> asia overnight wins japan and hong kong gearing up for shopping son chicago toy fair a look at hottest toys this season. >> first, topping news this half an hour tax reform in economy, the house passed their version of a tax bill looks to decrease number of tax brackets reduce deductions cut toerpt tax rate adds 1.4 trillion dollars to deficit next decade a exclusive federal reserve bank of dallas ceo president, good to have you on program thanks for joining us. >> good to see you. >> we have been counting on you and colleagues so many years now, providing stimulus, to this economy, now looks like we are getting fiscal stimulus out of washington what are thoughts on this tax plan when it comes to the deficit, and growth? >> well, i will be careful not to get in the middle of the tax debate and political elements, but i think the our economy u.s. economy is
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approaching full employment and while the headlined unemployment rate 4.1%, the measure i look at most significantly unemployed encouraged workers people working part-time for economic reasons, even that prerecession lows that is context and i have said up to now i think regulatory review tax reform, the reform elements corporate tax reform could be helpful if it encourages companies low kate plants invest more vocal that government debt to gdp, is historically high likely unsustainable levels, particularly when you look at 49 trillion of unfunded entitlements i think we've got to be very careful not to do things that increase debt to gdp and deficit, because i think already out unsustainable levels. >> you make all good points, but you did say the economy
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basically is getting better you look at unemployment story. >> yeah. >> that certainly approved you just mentioned that you got two quarters of 3% growth, obviously is good thing, is that one of the reasons that recently you said you are not actively considering hiking interest rates another increase? >> if you -- gdp forecast for dallas fed 2 1/2%, and so sluggish by historical standards but certainly enough to continue to take slack out of the labor marlth the -- market the reason i said actively twrg next steps at or near full employment my projection our projection dallas fed wear likely to where over shoot maximum sustainable employment even though we have been slow to meet our inflaigs target amount of overshoot i need to take into account thinking about removing accommodations something i will be looking at degree of overshoot and
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counterbalanc. >> where have we seen inflation. >> going on i think on inflaigs, part of what is going on because we are taking slack out of the labor market we are getting toward full unemployment you have cyclical pressures have not seen in it wages or prices in my opinion because we've got a very strong structural headwind what i call technology enabled disruption, and to some extent globalization mainly disruption what do i mean technology playoffing people consumers at the use technology to shop for lower prices taking away pricing power of businesses other thing going on you've got a college education, you are able to just for this trend if you have got a high school education or less, unless you get retrained, your finding your job restructured or eliminated and you probably don't have a lot of negotiations power in wages, and so this structural
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headwind i think offsetting some cycle forces i believe the reason inflaigs has been muted the structural headwinds are accelerating about cycle for his building structural headwinds are not going away i think having a muted affect on inflaigs. >> you make an important point we are talking technology the fact robotics taking over different skill set to thrive in this economy what do you say about that next 10 years are we going to have robots taking over, many of our jobs? >> we this short answer is yes. we will. now, we can still have full employment with that but the thing that has to happen, we've got to improve early childhood literacy clinical readiness half students going to college not graduating in six years that is key to being able to adapt in this kind of
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economy, and we've got to have more with we call middle skills training, 45% of all new jobs middle skills require a lot more training, automotive technicians pipe spleshts nurses we can do that beef up partnerships between businesses junior colleges, and high schools to train people for middle skills jobs they are middle class they pay a lot of money, and we are lagging in creating ecosystem where people get better educated so i think education and improving skills of our labor force got the fob priority number one for us to deal with this trend. maria: this is an important point you are making our viewers want to know when they need what skill sets to thrive not survive, 10, 20 years you are saying 45% new jobs are middle skills area what are those jobs? >> yeah. so one example by the way -- and you know there is a
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so-called you have heard a skills gap in united states what do i mean by that, half of half of all small businesses sigh in surveys they cannot fill their skilled job optionwing openings pipe fitters automotive technicians health care i.t. specialists i mentioned there is a list of 20 of these, a lot of them didn't these kind of jobs did not exist 20 years ago automotive person needed less training cars not so, so fist indicated celsius person key person probably most money, and that is who you dealt with bought a car today cars are bought online sales person's job is a lot less important you probably don't deal with salesperson anymore automotive technician highest paid in car dealership probable 150, 175,000 a year people are not aware of this we don't have
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enough, jr., colleges in country including dallas partnering with businesses to train more we don't have enough of them. maria: of its walking to auto technician a couple years ago said maria you can eat on floor in my auto store, because it is all technology there is no grease this is not what it was years ago in the car 'is technology based so you really need that skill set. >> right. maria: let me ask you about idea we could get up to 4% growth do you think as things are getting better we see this tax plan come out impacts people having more money in pockets, could we actually see a 4% number near-term? >> let me explain this way what drives growth two things growth in the gdp made up of gdp made up of growth in the work workforce and productivity one problem the population is aging, workforce growth is slowing. okay? the participation rate 66% '07, 63 today we think i
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dallas fed bulk is demographic it is aging gets worse next 10 years, going to go to 1 number one we've got to find ways to grow 2 the with workforce working longer second thing productivity issue talking about we've got people in their careers residence a high school education or less, your productivity during career may be going from here to here, why? your jobs getting restructured we are not beefed-up for retraining, so in order to grow faster we've got to grow workforce, improve productivity other things help i want to make sure we keep an eye on ball two things that drive gdp growth, and we need to beef up both. maria: let me ask you this the president of the european central bank said low interest rates in eurozone have not hurt banks he said interest rates will remain low quote well past end of its bond-buying program what do
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you say to that? i know even europe is recovering yet planning on keeping rates real low. >> yes, so here is the issue on low rates. european is doing better you got to put in context still growing at historically sluggish rates so i think when i see a 10 year treasury in mid 230s, what does at a tell me one of the things tells me there is a lot of global liquidity because of quantitative easing we are fed, by the way, i am glad starting to reduce our balance sheet i think we should, but the other dhieng it is saying prospects for future growth sluggish one of the big questions demographic issue i mentioned earlier, aging population to almost all advanced economies, by the way, one of the other headwinds in my opinion high levels of government debt to gdp, is also likely to headwind for future economic growth and so that is the reason i think rates are low, and probably why mario draghi
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wants to keep flexibility as he thinks about how he is going to manage this. >> your colleague jay powell president pick to replace janet yellen when her term ends next year what can you tell us about jay powell will fed be much different under his leadership he has been n you're clegg soon fed so long. >> first i have worked closely with jay over two years he itself superb outstanding, and so i think very excited about jay powell becoming chairman of the fed. i think like any good organization, though, with the change in leadership, we should be reviewing or practices should look for ways we can improve, the world is changing the economy is changing we need to adapt to that i think jay will be superb leader we know him well around the table work very well together, and i am confident we will be committed to rigor excellence debate, and coming up with good decisions. >> all at a time you've got
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unwind balance sheet never this is unprecedented, do you feel it could be disruptive. >> no, i am not a ph.d economist i am a markets person, and my belief in designing this plan for your viewers we're not saying we're not selling securities we are letting maturities run off as they come due, and we have done it in a phased in way when you look at size of phase out relative to market voluminous attracts morning backed securities i think this will be manageable i think this will go well. >> good to see you thanks so much. >> thank you, maria good to talk to you -- >> for more join us on wall street week and 8:00 pm eastern tonight for robert kaplan my special guest we will be back right here.
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. maria: we have we get breaking news to bring to you general electric ceo john flannery acquiring 60,000
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shares ge according to sec filing valued 1.1 million dollars filing says -- bought shares november 15 two days after struggling company when it announced would cut dividends 50% up 1/2 percent on news kevin kelly stock is down, 37% in 2017. >> a so mi stoke. >> what a story. >> show me stoke priced at market moiments don't appears appears like honeywell interesting thing about purchasing stock jeff immelt did this the stock always went down after wards just because buying doesn't mean the turnaround is going to take hold jeff immelt did it, it didn't work. >> buy at 18 and change? right you got to ask the question after high was 50 and change, we are watching tesla after semitruck veal good morning to you. >> good friday morning you are right watching technology, tesla electric trucks wave of
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the future reservations to may multiples tesla semitrucks, they actually noting that we believe electric trucks beneficial on lom, and also the heavy routes they travel great news for tesla stock moving higher in 324, 325 range this morning after closing 312 and change watching the gap, the gap is moving upside today, they came out with biggest revenue contributor is old navy always best part of the gap report from gap banana republic closing going to coffee shop on more discount chain old navy chain big news gap up 7.7%, abercrombie & fitch, up 21%, this morning, all about how that helps with later quarter. maria: thank you so much former irs commissioner john
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coulds tinnen one final parting gift way outdoor first time ever the agency will enforce obamacare employer mandate thousands in penalties to companies not in compliance wording to "the wall street journal" host of "varney & company" stuart varney, good morning. >> outrageous. >> incredible. >> obama administration, using irs, to leverage to do you know inflict damage on political opponents intimidated tea party in 2012 now as i say parting shot from john koskinen, last week in office, he imposes fines on small businesses, he says didn't profit a report under op care these fines 2000 dollars per employee. they want to collect 200 billion dollars over the next 10 years, how is that for a parting shot? you know, when irs tax man is politicized you know your democracy has got a problem.
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may be that happens no accountability exactly right i don't want -- a special prosecutor just sunlight. >> i am sorry "varney & company" top of the hour see i then 9 a.m. after "mornings with maria" and we will be right back. is this a phone?
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fun stuff games and gadgets if you are looking for latest gift ideas we've got your back jeff flock at chicago toy game fair checking out items this season looking good over there in chicago what are you seeing. reporter: you know mattel
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hasbro they have got all legendary games but i've got new games right here, this is something, called spiro, maria, and if you look this is what the first robotic ball controlled by an app, okay. what i am doing controlling this ball over here if i tilt head to the left it goes left if i tilt to the right, it is going right it goes right if i smile, hello, it goes forward. yes -- if i frown backward bob i go -- on your board kind of the future toys controlled by the app what is this. >> this is -- app -- goes animation we can also, go around fun. >> doing that by app on
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tablet. >> app an tablet or you can drive with hand motions. >> you've got car over here the same sort of thing what is this. >> this is light and clean, this is the real life, right here. >> the movie. >> pixar, so animates slow him down, drive them. >> you can do that. >> absolutely. >> okay. oh look at that, your controlling that all by this app. >> correct, yes by app. >> this is the future. >> absolutely, look at app, sit that is the app right there he is spinning it around. you just ran -- >> okay, good. thanks i appreciate it. more traditional toys, with a little bit of technology to it who is this. >> i am from -- we are he featuring two player game, really interactive you have construction card first to create that design, exactly
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like that hit that going to blast -- down hitting the pad, really great game. >> dynamite. >> featuring here at play fair, if you hit while -- >> you blast yours i will blast mine. >> oh! >> i got mine! >> fun game. >> okay i am going to try yours. >> i love it. awesome thank you so much. >> who wouldn't love that jeff good stuff thank you so much jeff bloc we will be rate back. stay with us. we couldn't live there. mom: our first concern was the kids. this was going to be hard on them. chubb got us a place to stay in the same school district.
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otherwise it could have been a nightmare. dad... chubb turned a disaster
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>> thanks everybody great show. have a great weekend here's varney and stuart stew over to you. >> thank you very much maria tax cuts agenda cleared two big hurdle there's one left, the senate so i will repeat the question, can you imagine the republican party saying if no to tax cuts at the very last minute? [laughter] good friday morning everyone. i know you're saying yes ashley. [laughter] hold on a second. the house says yes. 227-205 set up u finance committee last night also says yes. tax cuts do have momentum. and u now after thanksgiving it goes to the full senate. the democrats are playing class warfare a give away to the rich they say. the president treasury are secretary leading republica


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